Real estate developers seek tax cuts, subsidies to boost affordable housing

The concerns were voiced during a handover ceremony for more than 70 completed homes at Kenyatta Road in Kiambu County, where Willstone Homes Managing Director Ejidio Kinyanjui called on the government to introduce tax cuts and subsidies for developers.

Kinyanjui pointed to the escalating cost of key construction inputs, particularly cement, alongside surging transport costs tied to rising fuel prices, as factors significantly inflating the cost of building homes.

He argued that targeted government support would enable private developers to play a more meaningful role in advancing the Affordable Housing Programme and help address the growing demand for home ownership across the country.

"Easing the tax burden on the real estate sector would lower construction costs, making homes more affordable and encouraging greater private sector investment in housing projects," Kinyanjui said.

The Association of Real Estate Stakeholders (RESA), which was represented at the ceremony, separately appealed to the government to involve industry players in the formulation of policies affecting the sector. The association said meaningful consultation would result in more practical and sustainable decisions.

RESA also called for peace and political stability ahead of the campaign period, stressing that a secure environment is essential for attracting investment and sustaining growth in the real estate industry.